With standard accounts, users get a free UK current account and a free euro IBAN account. There are no fees on exchanging in 24 currencies, up to £5,000 a month, and you can withdraw up to £200 a month from cash machines.

Revolut also offers monthly subscription plans with higher thresholds for no fees, as well as instant access to crypto-currencies, cash back, travel and concierge service.

It was not a bank when it started, but Revolut announced in December that it had been granted an EU banking licence by the European Central Bank. It still aims to acquire a full UK banking licence.